Cognizant Technology Solutions Corp (CTSH) Holdings Cut by Sentry Investment Management LLC

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Sentry Investment Management LLC lowered its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,396 shares of the information technology service provider’s stock after selling 3,054 shares during the quarter. Sentry Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $2,492,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTSH. Tesco Pension Investment Ltd boosted its position in shares of Cognizant Technology Solutions by 4.9% in the first quarter. Tesco Pension Investment Ltd now owns 709,856 shares of the information technology service provider’s stock valued at $51,429,000 after acquiring an additional 33,384 shares during the period. TD Asset Management Inc. boosted its position in shares of Cognizant Technology Solutions by 3.7% in the first quarter. TD Asset Management Inc. now owns 241,704 shares of the information technology service provider’s stock valued at $17,512,000 after acquiring an additional 8,698 shares during the period. Forsta AP Fonden boosted its position in shares of Cognizant Technology Solutions by 6.0% in the first quarter. Forsta AP Fonden now owns 619,458 shares of the information technology service provider’s stock valued at $44,880,000 after acquiring an additional 35,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Cognizant Technology Solutions by 1.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,359 shares of the information technology service provider’s stock valued at $173,616,000 after acquiring an additional 27,647 shares during the period. Finally, McKinley Carter Wealth Services Inc. boosted its position in shares of Cognizant Technology Solutions by 11.0% in the first quarter. McKinley Carter Wealth Services Inc. now owns 43,325 shares of the information technology service provider’s stock valued at $3,139,000 after acquiring an additional 4,281 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP James Patrick Lennox sold 1,081 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $71.73, for a total value of $77,540.13. Following the completion of the sale, the executive vice president now directly owns 3,709 shares in the company, valued at $266,046.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Malcolm Frank sold 437 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $71.81, for a total value of $31,380.97. Following the completion of the sale, the vice president now owns 27,009 shares of the company’s stock, valued at $1,939,516.29. The disclosure for this sale can be found here. Insiders have sold 44,477 shares of company stock valued at $3,201,495 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Argus cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Daiwa Capital Markets cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. UBS Group reduced their price objective on Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Zacks Investment Research cut Cognizant Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 7th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $57.00 target price (down from $71.00) on shares of Cognizant Technology Solutions in a research report on Monday, May 6th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.55.

CTSH stock traded up $0.46 during midday trading on Monday, hitting $59.90. The stock had a trading volume of 2,766,917 shares, compared to its average volume of 8,203,079. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $83.35. The stock has a market cap of $33.84 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 annualized dividend and a yield of 1.34%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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